Söderberg & Partners takes stake in Generation Financial Services Ltd as part of expansion

Söderberg & Partners has completed an arrangement to buy a minority shareholding in Generation Financial Services Ltd for an undisclosed sum. Generation Financial Services incorporates the trading styles of Generation Wealth Management, Generation Employee Benefits and Generation Charity Consultancy.

As a business partner, the firm will help Generation Financial Services grow and improve its offering, while maintaining its ethical approach to client service. Generation Employee Benefits will complement and enhance Söderberg & Partners’ own employee benefits business.

Söderberg & Partners takes a client-first approach and believes in the power of cutting-edge technology and carefully designed investment products. It will bring these three areas of focus to bear as it works closely with Generation and its team over the coming months and years.

All existing Generation directors, management, consultants and support staff remain in place. The key difference will be the addition of extra functionality for Generation in the way it delivers client advice and support services, and a wider range of opportunities.

Gustaf Rentzhog, Group Chief Executive Officer at Söderberg & Partners said: “The advice profession comes with increasing operational costs and regulatory requirements. We are pleased to be able to offer support to a smaller firm in this regard, as well as with managerial and back-office activities, so Generation can reach its full potential. This is the latest step in our growth strategy, which has seen us take stakes in three other IFA firms as we seek to make our mark in the dynamic UK marketplace.”

Andrew Waller, Director and Joint Owner of Generation Financial Services, added: “We are thrilled to have the support of a backer like Söderberg & Partners to help us take our business to the next level. Our ambition is to set new standards and demonstrate best practice within the wealth management and employee benefits sectors. With Söderberg as our partner we are confident we will achieve our goal.”

This latest acquisition follows Swedish wealth manager Söderberg & Partners’ earlier purchase of stakes in three IFA firms as part of its growth strategy. The group acquired a majority stake in Timothy James & Partners, and minority stakes in Cambridge-based Dartington Wealth Management and Atherton York in North London.

In November the firm also announced it was to launch a new adviser platform in partnership with Seccl, with the aim of helping advisers become more efficient through technology.

In June Söderberg & Partners announced it had secured an additional EUR 200 million from minority owner KKR to help fund the growth of its adviser proposition.

For more information, please contact:
Pippa Russell, Director Russell Communications
pippa@russellcommunications.co.uk
+44 7740933120